First-time homebuyer tax credit still on for military personnel

By June 2, 2010 Uncategorized

While the Federal Tax credit is a thing of the past for most of us, those serving overseas in the U.S. military, the foreign service and the intelligence community may still be able to claim the $8,000 credit.

“Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the credit,” according to the Internal Revenue Service. That means qualifying homebuyers have until April 30, 2011 to enter into a sales contract. If the homebuyer meets that first criterion, he or she then has until June 30, 2011 to close the deal.

For more information on the credit, check out the IRS article, First-Time Homebuyer Credit: Members of the Military and Certain Other Federal Employees.

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